Hi,
There is a scenario where a father wants to sell his 25 year old property and give the proceeds to his daughter. I had few questions in this regard:
- Will there be any tax on money received by daughter? Is there any limit? (The trf amount may be ~80 lakhs)
- If the house is transferred to daughter instead of giving the sale proceeds from the house, the transfer deed would be sufficient for the transfer? And in this case, my understanding is that the daughter would incur Capital Gains only when she sells the property?
CAclubindia
